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20121027
20121104
Search Results 0 to 6 of about 7 (some duplicates have been removed)
to the economy. that makes it the second most expensive storm in history after hurricane katrina. >> nearly half of new york city's deaths happened on staten island. secretary of state janet napolitano will be there today. anna werner is there. >> reporter: good morning. homes are destroyed. the storm threw cars like toys. that's what it looks like all down this street yet many residents say they believe they've been ignored. some residents of staten island have started calling it the forgotten borough. across storm-ravaged staten island, frustrations are mounting. >> we could have died! we couldn't breathe! we've got 90-year-old people. >> reporter: residents are outraged, claiming their community has been ignored in the days following sandy while aid pours into other parts of new york and new jersey. >> a lot of people are here. a lot of people are hurting. so, it's upsetting. >> reporter: power is out. hundreds of homes have been destroyed and dozens of streets are impassable. still, the city is planning to go ahead with its annual marathon, which kicks off on staten island's verrazano bridge
and new jersey. new estimate says sandy will cause $50 billion in damage to the economy. that makes it the second most expensive storm in u.s. history, after hurricane katrina. >> nearly half of new york city's death from superstorm sandy happened on staten island. homeland secretary janet napolitano is going there today, where people say they're suffering and not getting enough help. anna werner, good morning. >> reporter: good morning. as you stand on this street in staten island you can clearly see the path of destruction wrought by hurricane sandy. cars picked up and tossed like toys. that continues throughout the neighborho neighborhood. many residents say they feel ignored. some residents of staten island have started calling it the forgotten burrough. across storm-ravaged staten island, frustrations are mounting. >> we're going to die! we're going to freeze! we've got 90-year-old people. >> reporter: residents are outraged, claiming their community has been ignored in the days following sandy while aid pours in to other parts of new york and new jersey. >> they don't talk abo
on the economy or not? >> well, it actually might not that have that big of an impact but interesting with only a few days to go before the election because if stocks open back up if sandy has a major impact and in particular if it hits a number of companies, you might see those stocks trade lower, trending lower ahead of an election could have an impact there. we have a jobs report coming up on friday. that'll have a big impact too. >> what about gas prices? >> well, about 6.5% of the country's refineries are located along, again, the northeastern corridor. that's in the storm's path. what's important to think about here is in order to use gasoline, we need to have it oil refined into gasoline. if they are shut down and a number of them are shutting down and a number of them are closing off some of their operations as a result of the storm, prices can go up. on the flip side a number of people aren't driving. so you see that counterbalance. >> stay home. >> exactly. you see that counterbalance as far as prices are concerned. some analysts are saying we might see an uptic
larger economy? >> sure. early estimates are tough to get a handle on but it looks like there's something in the range of $20 billion just in property damage, lost business that could be anywhere from $10 to $30 billion as we sort through these things that just aren't happening right now because of the storm. think about it. from the empire state building to wall street, there's no electricity. that's a lot of economic activity that's just not happening right now. >> whenever you have these kinds of stories they say there's a silver lining. i think it's hard to see that when you're in the middle of this kind of devastation. do you see one? >> i hate to talk about such a thing after what you've been showing on television. it's true. the construction industry is exhibit a. think about it. ever since the great recession there's been no reason to bang nails. we built too many houses so there's no reason to build any more. now we have a reason to build some more house because a lot have been destroyed. 2 million construction jobs simply didn't come back after the housing bubble burst. now a fe
this in the coming days. >> but you say that we still depend on 20th century technology to power 21st century economy. what does that mean. >> that's referring to the electrical grid. we saw what 8 million people who lost power. we have a system that isn't ready for this kind of a disaster. you have a grid that can go down easily. even smaller events like halloween's storm last year. we have a system that's like the internet, more flexible, more resilient you can get it back online faster. >> people can tweet but still couldn't use internet or cell phones. >> exactly. the signature moment of the storm people tweeting that they had lost power which shows that very clearly. >> what are the big lessons back to the cover story, a lesson from the storm that makes a difference in terms of the future? >> a few. climate change clearly is real. scientists will differ how much climate change affect as storm like this. this will become more and more common in the future we'll have stronger storms, we'll have these coastal flooding events which are disastrous with sandy. one thing we need to deal with. secondar
Search Results 0 to 6 of about 7 (some duplicates have been removed)